M&A roundup: Prager Metis CPAs combines with M Moskowitz; HBK IT acquires Unicom Solutions

Details: Prager Metis CPAs, a Top 100 Firm based in New York, is merging in M Moskowitz and Company PA, a firm in River Edge, New Jersey, effective Nov. 1.

The combination was facilitated by Dom Esposito of Esposito CEO2CEO. As part of the deal, M Moskowitz and Company recently relocated to Prager Metis’s office in Hackensack, New Jersey.

“We welcome their addition,” said Ronald Friedlander, office managing partner of Prager Metis’s Hackensack office, in a statement. “We’re excited that this merger enables us to continue to provide excellent, personalized service to the diverse businesses and individuals throughout New Jersey.”

M Moskowitz offers services such as accounting software setup, client write-up, business consulting, IRS representation, management advisory services, retirement planning and tax preparation. As part of the deal, founder Michael Moskowitz is joining Prager Metis as a partner, along with three other staff members.

“We are excited to join a firm whose commitment to client service matches our own,” Moskowitz. “Prager Metis has a level of expertise and a reputation that is unique for an accounting firm of its size. We look forward to bringing these resources to our clients.”

Financial terms of the deal were not disclosed. Prager Metis ranked 51st on Accounting Today’s 2019 list of the Top 100 Firms, with $97.03 million in annual revenue. The firm has approximately 100 partners and principals and over 500 employees. It created a YouTube video showcasing the merger.

In October, Prager Metis added LFL Veritas in Teaneck, New Jersey. In July, it expanded to Washington, D.C., by merging in Frank & Co. PC, and earlier in the year it extended its footprint in both Florida and New Jersey by adding Beck, Villata & Co.

Details: HBK IT LLC, a member of the HBK family that includes Top 100 Firm HBK CPAs & Consultants, has acquired Unicom Solutions Group, a technology consulting firm in Mountainside, New Jersey.

Unicom, established in 1991, offering services to small and midsize private companies, nonprofits and government agencies.

Financial terms of the deal were not disclosed. HBK, short for Hill, Barth & King, ranked 56th on Accounting Today’s 2019 list of the Top 100 Firms, with $94 million in annual revenue. The firm, based in Canfield, Ohio, has approximately 80 partners and 480 employees. HBK’s CPA firm dates back to 1949 and added a wealth management practice in 2001. HBK CPAs & Consultants and HBKS Wealth Advisors collectively count more than 500 financial professionals.

“We continue to seek out new and innovative ways to transform our organization in this digital world through modern cloud solutions, financial applications, messaging and communications as well as infrastructure and cybersecurity,” said HBK Managing Principal and CEO Christopher Allegretti in a statement.

Unicom will become part of HBK IT LLC, which provides digital transformation, managed services, cybersecurity consulting and enterprise resource planning to clients.

“Bringing Unicom into the HBK family gives HBK IT even greater scale and technical expertise,” stated Tom Angelo, HBK principal in the firm’s Clark, New Jersey, office. “The merger will bring us a team of talented individuals as we continue to grow our advisory services and help our clients use technology to drive the growth of their business in an ever-changing digital world.”

“Joining HBK was precisely the strategic move we were looking to make," said Unicom founder Roman Sawycky. "It allows us to offer our staff more opportunities for personal development and professional training, and our clients a more complete set of products and services.”

Last year, HBK’s CPA firm merged in Spire Group in Clark, New Jersey, and the sole practitioner firm of Michael Monahan, CPA, in Sarasota, Florida.